A surefire $300 salary can buy a house and car
loading...
Everyone must have a dream to have a dream home and a comfortable private vehicle. Especially if you have a family status, surely the greater the desire to buy a house or a vehicle to facilitate transportation access for all family members. Of course, this dream is not only for those who have a large monthly salary, but also for employees at the beginning of their careers have the desire.
But what if the income as an employee is still barely enough for daily needs. It will certainly be difficult to allocate the budget to the current conditions with the price of basic necessities also fairly expensive. Especially now that house prices are getting higher and higher.
Currently, if you have a standard salary of four to five million per month, you can still start paying in installments on your home and car assets. There are tips and steps you can take to manage your monthly salary well so that later you can buy a house and car with a secure installment that is not burdensome. Here are a few tips so you can have a house and car:
1. Saving at the beginning of payday
For those who plan to repay a house or car, you should save first. The purpose of this connection is so that the installment burden is not too burdensome because of the large downpayment. Can also be used for funds for unexpected situations or emergencies.
The matter of saving, you often think that savings money is left over from payday, then that is not entirely true. Saving at the end of the month with the remaining amount of salary will cause the value of your savings to fluctuate, sometimes it can be large, sometimes low. Even if there are so many needs, there can be no savings set aside.
Therefore saving at the beginning of the month when receiving payday is the right choice. So that savings remain intact.
Saving at the end of this time can also provide predictions and estimates of how long to save to get a certain value. If it's enough, you can use this savings to meet the down payment installments.
The thing to remember is that the bank will only help installments of 70 to 80 percent of the home appraisal value. Therefore, you need to prepare 20 to 30 percent as an advance or down payment. In addition there are still many other costs that must be prepared such as notary fees and taxes.
2. Allocate Monthly Needs
The most important thing before deciding to start making repayments is your financial management skills must be sharpened properly. Start placing personal needs as a priority, such as money for daily food and transportation needs. Other needs can be the next priority.
As for entertainment needs that can only be placed after the allocation of salaries to buy a dream home or car. Thus, the monthly budget goals will be clearer and better measured.
3. Not Having Debt
If you plan to buy a house or car in installments, then you should make sure in advance that you are not paying in installments or having debt somewhere else first. This is important, do not let you start to pay in installments, but your salary was also spent by the previous debt.
You will suffer greatly with past debt obligations and fulfill house or car loan obligations that have just begun. If you have debt, the first priority is to pay off the debt immediately. That way, you will not be burdened with the number of installments that must be paid.
4. Give a Benchmark of Prices
Very important in determining the price of a house or car to be purchased. The amount of value of the house or car that you are planning must be able to adjust to the salary capability. Make sure that the monthly installments can also be met by the monthly salary while taking into account the main priorities in daily living needs
5. Look for Credit with Low Interest
If you have found a list of banks with high credibility to be addressed, then in choosing a bank is the credit offer. Choose a bank that offers mild loan interest, and is not burdensome. If necessary, negotiate first with the bank regarding the amount of the installment interest.
6. Find a Trusted Bank
If you want to apply for credit, then do not carelessly choose a bank. You also have to consider the credibility of the bank which is the submission. Many banks offer a small interest payment, but still should not be easily tempted because it is feared there will be a dispute or crime. It's safer and better to choose a bank that already has a popular name even though the interest is rather high. But most importantly the submission process is easy and can be served professionally
7. Buy as needed
If the budget for the house and car is mediocre, then also adjust the house model that is simple and minimalist. Also determine the size of the house and realistic prices with the family later. Do not be too pushy to immediately buy luxury homes and large if the salary is mediocre.
If you feel the house is less spacious, you can sell it again and buy a new home that suits your needs. In addition, choose a house with good prospects, for example by buying a house on the edge of the highway and other public facilities
8. Large installments per month
If you start to pay in installments, then what needs to be considered is the amount of monthly installments will be one of the proportion of salaries every month that must be met in addition to daily needs. Therefore, choose installments that match your salary every month.
The easy formula is that the total debt installments do not exceed 30 percent of their monthly income. That way the cost of daily living is not interrupted. The amount of monthly installments can also be made lighter by choosing a longer installment period. Although it feels longer, but the monthly installment obligations can be fulfilled it will be better.
9. Don't be Consumptive
If you were once a consumptive person, especially with credit card payments, then it should be stopped, especially when you have fixed installments such as houses or cars. Start paying for purchases of goods with cash or debit card. The use of credit cards is tantamount to adding expenses in the following month.
10. Start Investing
You can start investing to help realize the dream of having a dream home. Realize savings in the form of investments such as precious metal gold whose value goes up annually The value of gold rose an average of 15 to 25 percent each year to surpass the margin of a home or car loan with an average flat margin of 11% per year. This means that gold can be used as a debt repayment when resold.
loading...
loading...